Embraer, BNDES to set up $59 mln fund for Brazil aerospace industry

SAO PAULO May 7 (Reuters) - Embraer SA ,
the world's largest regional aircraft maker, will set up a 131
million real ($59 million) investment fund for projects in the
Brazilian aerospace industry alongside a number of state
entities, according to a securities filing on Wednesday.

Embraer will start the fund with state development bank
BNDES, the São Paulo State Development Agency and
Finep, a federal government-funded research and development
institution, according to the filing.